Spirit AeroSystems nearly doubles profits in first quarter

Spirit AeroSystems Inc. reported a net income for the first quarter of $154 million, nearly double the $81 million the company made in the same period in 2013.

Earnings per share were $1.07, up from 57 cents last year.

The company's revenues were up by about 20 percent, from $1.4 billion for the first quarter last year to $1.7 billion this year.

Spirit (NYSE: SPR), an aerospace supplier whose customers include Boeing and Airbus, is Wichita's largest employer.

The company said in a news release that it benefited from "robust demand for large commercial aircraft."

CEO Larry Lawson noted that Spirit was also successful in the first quarter of ramping up to meet Boeing's goal of producing 42 of its 737 aircraft per month. Spirit builds about 70 percent of the 737.